"Nobel Prize-winning economist Joseph Stiglitz said “bitcoin is successful only because of its potential for circumvention, lack of oversight." - this statement

"Nobel Prize-winning economist Joseph Stiglitz said “bitcoin is successful only because of its potential for circumvention, lack of oversight." - this statement demonstrates a profound ignorance of the subject matter. Bitcoin provides a way for individuals to make secure transactions across distances without the need for a third party to verify the transaction and that's why it's successful. What lack of oversight is he talking about? It's open-source! It could hardly be any more transparent.